As a follow up to a previous article about Big Bear lakefront sales regarding how we've gotten off to a great start in 2012, I thought I'd offer a better frame of reference by looking back at not just last year, but at several years, to see what our annual sale numbers look like. See below.
Looking back, you can see that 2011 was at par with 2008 as the worst years in the past decade as far as sales of Big Bear lakefronts is concerned. (2002's numbers can be disregarded as it was the first year the Big Bear MLS recorded data and the number reflects only a partial number of the sales from that year.)
Perhaps the most interesting year for lakefront sales was 2005. Sales soared as the overall Big Bear real estate market heated up. But equally as influential as the hot market was the fact that Big Bear Lake's water levels went from their lowest point in a quarter century to near full in the spring of 2005. With the market in a frenzy and the lake having recovered so dramatically from some of the drier years it's seen, the lakefront real estate market took off with sales doubling from the previous year.
One might think that the decrease in sales last year suggests a weak market. Perhaps. But another reason that sales of Big Bear lakefront homes may have stumbled is due to sellers and buyers stalemating over prices. I have often seen the possibility of a market change being preceded by a drop in number of sales, as buyers will be looking for continued concessions on behalf of the sellers, whereas the sellers, after years of many lakefront sales being done so out of necessity and oftentimes finanical distress, will finally feel stand firm on their prices as they are financially and situationally able to do so.
Either way you look at it, 2012 is off to a very encouraging start. It wouldn't totally surprise me, not unlike 2005, if we double 2011's sales this year!